06-01-2003, 10:00 AM
'Enron-turned-Enruin' was such a huge rotten rat that couldn't be brushed away under the carpet. So, among so many others, this rule was also proven wrong that "Bigger is Better".... so that's how it all started and now media can daily find a mouth watering story which makes 'face saving' more and more difficult for "Parrot-Accountants" around the world.
In Pakistan, we saw co-operative scam involving billion of rupees in Punjab. Then in Karachi investment companies swallowed away billion of rupees of public.
We saw closure of thousands of industries & businesses throughout Pakistan because despite the fact their financial models were false, loans were advanced for billions of rupees (mostly by the nationalised banks, having public money).
We saw fabricated boom at stock-exchanges in mid 90s when billion of rupees of common people were washed away.
We saw fall of biggest DFI of Pakistan (NDFC) due to bad loans for tens of billions of rupees. There was BEL also... There are numerous examples.... On the other hand we saw so many amnesty schemes announced by Govt. and SBP including the present Circular 29 which allows banks to write off billions of rupees.
What we never saw was any 'Arthur Andersen' of Pakistan... because we people are not like those AA guys. Though we like to decorate their Service Marks, Trade Names or Logos at our blank-looked faces, still we live in the land of pures... we are pure, we are honest...Perfect.
Professional institutions, firms & individuals of Pakistan should rightly be proud of their examplary integrity, honesty, purity & cleanliness. BUT... I'm sorry...I'M NOT PROUD OF OUR 'HONEST, PURE & CLEAN' SYSTEM.
HEY YOU!!!.. CAN YOU HEAR ME YOU PARROTS OUT THERE??? I'M ASHAMED OF OUR SYSTEM!!!.... I'M ASHAMED OF YOU...I'M ASHAMED OF MYSELF!!!...
Edited by - TheOne on Jun 01 2003 051152 AM
In Pakistan, we saw co-operative scam involving billion of rupees in Punjab. Then in Karachi investment companies swallowed away billion of rupees of public.
We saw closure of thousands of industries & businesses throughout Pakistan because despite the fact their financial models were false, loans were advanced for billions of rupees (mostly by the nationalised banks, having public money).
We saw fabricated boom at stock-exchanges in mid 90s when billion of rupees of common people were washed away.
We saw fall of biggest DFI of Pakistan (NDFC) due to bad loans for tens of billions of rupees. There was BEL also... There are numerous examples.... On the other hand we saw so many amnesty schemes announced by Govt. and SBP including the present Circular 29 which allows banks to write off billions of rupees.
What we never saw was any 'Arthur Andersen' of Pakistan... because we people are not like those AA guys. Though we like to decorate their Service Marks, Trade Names or Logos at our blank-looked faces, still we live in the land of pures... we are pure, we are honest...Perfect.
Professional institutions, firms & individuals of Pakistan should rightly be proud of their examplary integrity, honesty, purity & cleanliness. BUT... I'm sorry...I'M NOT PROUD OF OUR 'HONEST, PURE & CLEAN' SYSTEM.
HEY YOU!!!.. CAN YOU HEAR ME YOU PARROTS OUT THERE??? I'M ASHAMED OF OUR SYSTEM!!!.... I'M ASHAMED OF YOU...I'M ASHAMED OF MYSELF!!!...
Edited by - TheOne on Jun 01 2003 051152 AM
